The U.S. labor market is slowly improving, with the number of people making initial claims for unemployment benefits falling to the lowest level in a month and U.S. businesses adding more than 200,000 jobs in August, according to two reports issued Thursday. The Labor Department said jobless claims fell by 12,000 last week to 365,000. It was the first decline since early August and the lowest level since then as well. However, the four-week moving average of jobless claims, a less volatile measure, rose slightly to 371,250. Meanwhile, a private survey showed U.S. businesses added a better-than-expected 201,000 jobs last month. Payroll provider ADP also said July private-sector job growth was stronger than initially reported. It revised the figure to 173,000 from 163,000. The ADP report only covers hiring in the private sector and excludes government job growth or contraction. The Labor Department will offer a more complete picture of August hiring on Friday. Economists forecast that employers added 135,000 jobs last month, while the unemployment rate is expected to remain at 8.3 percent.
